The United Kingdom Gambling Commission confirmed that they’d placed Genesis Global Limited under an immediate investigation, citing that GGL broke compliance standards under the UKGC Gambling Act. It wasn’t known which legislation was broken until July 20th when the gambling regulator disclosed that “Section 116 (2) – 2005 UKGC Gambling Act” had been enforced. This means that Genesis Global Limited is being investigated for breaching license standards.
Section 116 states that the United Kingdom Gambling Commission can start investigations into operators that are deemed “Unsuitable for Licensed Activities”. Extensions on what merits an investigation includes the revelation that executive personnel are criminally convicted. Since the 2nd Act in Section 116 is quoted, gambling analysts suspect that GGL Executives were previously criminally convicted without the knowledge of the UKGC.
Enforcement measures were implored by UKGC Regulators, using “Section 118 – 2005 UKGC Gambling Act” to force Genesis Global Limited to shut down all their betting properties. Suspension status became effective on July 20th, 2020. Genesis Global Limited has contacted customers with twelve online casinos. An official statement is suspected by GGL before July 24th, with analysts speculating that lawyers are first being delegated before public recognition of their suspension is issued.
Gambling transactions with the following twelve casinos aren’t permitted for the time being.
- Vegas Hero
- Casino Joy
- Casino Cruise
- Casino Planet
- Casoola Casino
- Casino Gods
- Genesis Casino
- Sloty Online Casino
- Spin-It Casino
Public Statement from UKGC
The United Kingdom Gambling Commission released a statement to industry personnel. Details in the statement remark that license conditions were breached by Generis Global Limited, indicating that both Section 116 & 118 had been broken. UKGCs statement clarified that GGL isn’t suitable to maintain its licensed activities for the time being. Their industry-wide report ended by indicating suspension status will remain valid until investigations are concluded.
UKGC Executives also find their decision appropriate & will facilitate consumers in withdrawing funds that remain under one of the twelve brands suspended with Genesis Global Gaming. Details on the timeframe for their investigation wasn’t highlighted in the industry-wide statement. GGL could find themselves losing large profits from their suspension status, especially during the coronavirus pandemic.